Tepid physical demand weighs on Zinc
29/01/2015 09:25
Zinc futures ended lower in the domestic market on Wednesday as investors and speculators exited positions in the industrial metal amid weak physical demand for zinc in the domestic spot market. However, the losses in the metal were curbed by an improving economic outlook in Germany where consumer confidence rose to over a 13-year high, signaling a pickup in Europe’s biggest economy, a bullish prospect for zinc. The gauge measuring German consumer confidence may rise to 9.3 points next month from 9 in January. At the MCX, Zinc futures for January 2015 contract closed at Rs 129.55 per 1 kg, down by 0.12 per cent after opening at Rs 130.3, against the previous closing price of Rs 129.7. It touched the intra-day low of Rs 129.25 till the closing.
29/01/2015 09:25
Zinc futures ended lower in the domestic market on Wednesday as investors and speculators exited positions in the industrial metal amid weak physical demand for zinc in the domestic spot market. However, the losses in the metal were curbed by an improving economic outlook in Germany where consumer confidence rose to over a 13-year high, signaling a pickup in Europe’s biggest economy, a bullish prospect for zinc. The gauge measuring German consumer confidence may rise to 9.3 points next month from 9 in January. At the MCX, Zinc futures for January 2015 contract closed at Rs 129.55 per 1 kg, down by 0.12 per cent after opening at Rs 130.3, against the previous closing price of Rs 129.7. It touched the intra-day low of Rs 129.25 till the closing.
